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Tahoe to invest $500 million in Guatemala

Friday, May 4, 2012

Canadian miner Tahoe Resources is awaiting authorization from Guatemala's Mining and Energy ministry for the construction of its El Escobal project.

Tahoe plans to invest $500 million in the mine in return for the production of 300 million ounces of silver.

Estimated reserves are expected to last 19 years, according to Carlos Morales, manager of Minera San Rafael, a subsidiary of Tahoe.

Source (in Spanish): El Periódico